Drewry Maritime Financial Insight – April 2021
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ontainer shipping: The fundamentals of container shipping companies remain strong with liners set to enjoy a prolonged cycle of profitability extending into at least the next couple of years. Lines going back to deeply loss-making even in a down cycle looks unlikely as was evident in 2Q20 when they found a way to be profitable despite plunging demand. Port congestion and container equipment shortages will remain undesirable factors throughout most of 2021, albeit lessening in degree as the months pass by. This will further restrict the availability of capacity and lead to substantially higher average spot and contract freight rates. With higher contract rates locked in, another highly profitable year is virtually guaranteed, and we think the industry will reset profitability records once again in 2021, despite several opex headwinds in the form of higher fuel cost and charter rates. Cosco shipping and Matson have already reported t
by Janet McGurty (S&P Global Platts) Ethanol carbon sequestration will lower CI; DGD renewable diesel expansion online end 2021; Renewable diesel sales expected to grow Valero sees growing demand for low-carbon fuels and will continue to seek out projects which reduce carbon intensity while delivering financial returns to their shareholders, CEO Joe Gorder said on the company’s April 22 first quarter results call.
“We have a clear recognition here that low-carbon fuels are going to be in much greater demand going forward,” he said.
“The interesting thing here from our perspective is that we’ve been able to come up with low-carbon fuel projects and projects that have enabled us to reduce the carbon intensity of some of our other fuels that have significant returns also,” he added.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now We have a clear recognition here that low-carbon fuels are going to be in much greater demand going forward, he said. The interesting thing here from our perspective is that we ve been able to come up with low-carbon fuel projects and projects that have enabled us to reduce the carbon intensity of some of our other fuels that have significant returns also, he added.
Valero in March announced it was joining with BlackRock Global Energy & Power Infrastructure fund and Navigator to build a carbon capture and storage pipeline system across the Midwest, which will connect to eight of its 13 ethanol plants and have the capacity to store 5 million mt of CO2 annually.
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US-based New Fortress builds LNG footprint
Apr 16, 2021 1:45:pm
Summary
by: Daniel Graeber
US-based LNG company New Fortress Energy announced April 15 it had completed acquisitions that build up its capabilities in the Brazilian market and in international LNG.
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